STAND. COM. REP. NO. 372
Honolulu, Hawaii
, 2015
RE: H.B. No. 345
H.D. 1
Honorable Joseph M. Souki
Speaker, House of Representatives
Twenty-Eighth State Legislature
Regular Session of 2015
State of Hawaii
Sir:
Your Committee on Housing, to which was referred H.B. No. 345 entitled:
"A BILL FOR AN ACT RELATING TO TAXATION,"
begs leave to report as follows:
Your Committee has amended this measure by:
(1) Clarifying that the entity holding the interest in real property shall have no more than ten persons with ownership interests immediately prior to the transfer of interest where the transfer consists solely of a change in controlling interest to qualify for the exemption from the conveyance tax;
(2) Requiring a spouse to be considered a separate person when determining ownership for tax exemption purposes;
(3) Changing the effective date to July 1, 2050, to encourage further discussion; and
(4) Making technical, nonsubstantive amendments for the purposes of clarity, consistency, and style.
As affirmed by the record of votes of the members of your Committee on Housing that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 345, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 345, H.D. 1, and be referred to the Committee on Finance.
Respectfully submitted on behalf of the members of the Committee on Housing,
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____________________________ MARK J. HASHEM, Chair |
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